Farmmi Builds on Sales Momentum with Latest Order

Rhea-AI Summary

Farmmi, Inc. (NASDAQ: FAMI) announced a new multi-product order for its dried Shiitake mushrooms and dried black fungus to be exported to Israel. The company is focused on increasing sales momentum and business growth, supported by investments to enhance manufacturing, storage, and logistics capacity. Chairwoman and CEO, Yefang Zhang, expressed optimism about long-term growth as more consumers adopt healthy agricultural products into their diets. This order reflects the company's ongoing efforts to capture market share in the agricultural product sector.

Positive

• Received a new multi-product order for dried Shiitake mushrooms and black fungus.
• Focus on building sales momentum and driving business growth.
• Investments aimed at expanding manufacturing, storage, and logistics capacity.
• Anticipation of long-term growth trends as consumer demand for healthy products rises.

Negative

• None.

LISHUI, China, May 9, 2022 /PRNewswire/ -- Farmmi, Inc. ("Farmmi" or the "Company") (NASDAQ: FAMI), an agricultural products supplier in China, announced today it received another new multi-product order for its popular dried Shiitake mushrooms and dried black fungus. This order will be exported to Israel.

Ms. Yefang Zhang, Farmmi's Chairwoman and CEO, commented "We're pleased with our continued progress as we focus on building sales momentum and driving  business growth. Investments to expand our capacity and enhance our manufacturing, storage and logistics give us the ability to leverage our infrastructure to support overall customer and market growth. We expect these positive growth trends will remain in place over the longer term as more and more consumers incorporate healthy agricultural products into their regular diets and lifestyles. We are certainly seeing this based on the high level of customer activity in the markets we serve, where we believe we continue to take market share."

About Farmmi, Inc.

Established in 1998, Farmmi Inc. (NASDAQ: FAMI) is an agricultural products supplier, processor and retailer of edible mushrooms like Shiitake and Mu Er, as well as other agricultural products. In addition to its offline sales, Farmmi sells its products direct-to-consumer at http://www.farmmi88.com. For further information about the Company, please visit: http://ir.farmmi.com.cn/.

Forward-Looking Statements

No statement made in this press release should be interpreted as an offer to purchase or sell any security. Such an offer can only be made in accordance with the Securities Act of 1933, as amended, and applicable state securities laws. Certain statements in this press release concerning our future growth prospects are forward-looking statements regarding our future business expectations and intended to qualify for the "safe harbor" under the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding lingering effects of the Covid-19 pandemic on our customer's businesses and our end purchaser's disposable income, our ability to raise capital on any particular terms, fulfillment of customer orders, fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, our ability to realize revenue from expanded operation and acquired assets in China, our ability to attract and retain skilled professionals, client concentration, industry segment concentration, and general economic conditions affecting our industry. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings. These filings are available at www.sec.gov. Farmmi may, from time to time, make additional written and oral forward-looking statements, including statements contained in the Company's filings with the Securities and Exchange Commission and our reports to shareholders. In addition, please note that any forward-looking statements contained herein are based on assumptions that we believe to be reasonable as of the date of this press release. The Company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the Company unless it is required by law.

 

 

 

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SOURCE Farmmi, Inc.

FAQ

What new order did Farmmi, Inc. announce on May 9, 2022?

Farmmi, Inc. announced a new multi-product order for its dried Shiitake mushrooms and dried black fungus to be exported to Israel.

What is the significance of the new order for Farmmi, Inc. (FAMI)?

The new order signifies continued sales momentum and business growth for Farmmi, Inc., indicating strong demand for their products in international markets.

Who commented on the company's growth prospects in the press release?

Yefang Zhang, the Chairwoman and CEO of Farmmi, commented on the company's growth prospects.

How does Farmmi, Inc. plan to support overall customer growth?

Farmmi plans to support overall customer growth by investing in expanded capacity and enhancing its manufacturing, storage, and logistics capabilities.